Sea of Singapore acquires Indonesian Bank to gain Financial Tech Foothold
According to people familiar with the matter, Singapore’s Sea Ltd., the software start-up that has become the most profitable business in Southeast Asia, has acquired Indonesia’s PT Bank Kesejahteraan Ekonomi. After acquiring stakes from existing shareholders PT Danadipa Artha Indonesia and PT Koin Investama Nusantara through its subsidiary Turbo Cash Hong Kong Ltd., Sea acquired full ownership of the Jakarta-based …